The Covid-19 Outbreak Keeps Pressure on GBPUSD Bulls

GBP/USD Hourly (H1) Chart
GBP/USD Hourly (H1) Chart

GBP/USD: The pair is trading with clear dovish bias and fell below the mid-1.23 mark as the market ignored positive macro data outcome given pressure from very little change to BOE’s QE program. Firm USD in the global market and concerns of the second wave of COVID-19 outbreak keeps pressure on GBP bulls, but data from positive drug trials in the UK lends a hand. Traders now await US data for short term profit opportunities.

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